You’re asking the right questions before you start your career in freelancing. But the answer to this is quite variable. How much money you make as a sole trader depends on the service you are trading and the specifics of the platforms you are listing yourself on, as well as the kind of clientele you create.
Here’s a list of the most popular beginner level freelance jobs and the respective pay:
- Video and audio editor - $60,000 - $114,000 (per year)
Your video and audio editing skills can land you even bigger projects with time especially as a high end content producer. Your income will depend heavily on the stretch of the project and most obviously the number of clients you can retain. The difference between generating new clients and retaining old ones is therefore important before taking on jobs as a freelancer or independent business owner.
Video and audio production gigs are comparatively easier and quicker to find because of the rapid media movements everywhere and brands looking for the next best thing to value consumer engagement. It’s important to keep in mind that you will need quality resources to upskill and give your best in the creation.
Here’s a list of some popular video and audio content resources that will help you get started:
- Web Developer - $80,000 - $120,000 (per year)
With web development, things are a little categorised when it comes to listing yourself on the job seeking platforms. The most searched tags that compliment web developers are web designing, website designing, optimization, web tester, storyboarding. This opens avenues for you to master a certain field rather than perform everything related to development. For example, optimising an existing web layout or page is more in demand than website designing because of the availability of automatic website generators and ready-made templates.
When it comes to web based opportunities it can be quite profitable if your clientele consists of different kinds of brands. This adds to your portfolio credibility and diversifies your income sources. Another pro to assorting your customer base is that it eases categorising and managing your business expenses and calculating profit per project.
- Translator - $ 46.25 (per hour)
Last year over 600,000 international students arrived in Australia for studies and work. Becoming a translator to earn some extra income can be very fulfilling and exciting. Several international firms and companies are always on the lookout for translators who can make their brand more inclusive and accessible for people from all around the world.
Working as a freelance translator will also gain you a close perception of the education and research industry from where you can pick up any career you desire!
Fees charged by platforms
Upwork, Fiverr and other listing platforms levy a service charge for each transaction made to your account. This can vary from the extent and duration of each project and payment option used by the client.
Usually this is the service charge breakdown for Upwork users:
- $0-$500 in earnings from a client: 20% service fee applied to earnings
- $500.01-$10,000 in earnings from a client: 10% service fee
- $10,000.01 or more in earnings from a client: 5% service fee
While Fiverr takes a flat out fee for all payouts: the service fees are 5.5% of the purchase amount.
Filing for return
Good part is that you can redeem a part of these charges by filing an income tax return for your business expenses. Service charges levied are a primary expense incurred to maintain your sole trade or independent business. Make sure you have your ABN before starting out as a freelancer and download the MyGigsters app to be financially empowered. Join the exclusive community of freelancers and self-employed individuals in Australia for additional benefits!
